The F1 Las Vegas GP delivered its “third-straight sellout” over the weekend, and MGM Resorts President & CEO Bill Hornbuckle said that the race was “just what the city needed amid a mild tourism dip,” according to Mick Akers of the LAS VEGAS REVIEW-JOURNAL. Hornbuckle said that “having a major event like the race is something to look forward to each year, boosting visitation during what has typically been a slow time in Sin City.” Hornbuckle said that the race “draws around 150,000 visitors” who would not “have come to Las Vegas for the week, if it were not for the three-day event.” He added that the event “tracked well” for MGM Resorts, whose properties on the Strip “boasted” a 98% occupancy rate -- while the resorts near the Bellagio Fountain Club were “completely booked.” Las Vegas Convention and Visitors Authority President & CEO Steve Hill said that “all involved in putting on the race took the lessons of the first two grand prix events to ensure this year’s race weekend was the smoothest one yet.” It will take a few months to know “what type of economic impact the race weekend will have,” but Hill said that “it will track around” the $1B mark that the first two races hit. F1 “lowered ticket prices by an average” of 30% leading into the race. Hill said that the third-straight sellout is a “testament to race organizers listening to the consumer.” Hill noted that along with “developing an F1 fan base, starting the race two hours earlier than the previous two races was also a key to this year’s success” (LAS VEGAS REVIEW-JOURNAL, 11/23).
ROOM TO GROW: Drivers said that the gamble F1 took when it “rolled the dice on the Las Vegas Grand Prix is paying off,” but “track conditions and the race’s placement on the calendar need improvement.” Driver Fernando Alonso called the third edition of the high-speed competition “fun,” but said that “improvements were needed.” Alonso said, “It is too slippery, we cannot put the tires in temperature and there is no grip. And it’s extremely bumpy to the limit of being safe to race. I think we need to talk with the FIA about whether this is acceptable or not.” Alonso, who finished in 13th for Aston Martin, said that the race’s place on the calendar -- coming two weeks after Sao Paulo and just a week before the Qatar Grand Prix -- “was far from ideal” (REUTERS, 11/23).
ENTERING A NEW AGE: THE ATHLETIC’s Luke Smith noted under Liberty Media, F1 races have “undergone a shift in their offering.” Even the “‘traditional’ European events” that have been “part of the world championship’s patchwork since its inception in 1950” have “doubled-down on off-track entertainment and concerts to give the spectators in attendance much more than the on-track action.” As the sport “continues to make adjustments and sample new ways to both capture and retain fan interest,” the Las Vegas GP has become its “new test bed for experimenting with fresh ideas and partnerships.” Just as F1 is “staking a claim to being one of the most significant events for Las Vegas in its sporting calendar,” F1 CCO and Las Vegas GP President & CEO Emily Prazer felt that the city had “also given the sport freedom to try different ideas and be more ambitious” (THE ATHLETIC, 11/21).
